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This email just released by Oversight, from an unknown person at an unknown company, is a great summary of the IP-3 debacle, but also this tidbit about $1M per reactor would explain why people like Flynn got so caught up in it – the IP-3 plan was for 40 reactors in Saudi Arabia.
Per the email, the only flaws with IP-3's Saudi Arabia nuclear plan are that none of the things it claims it will be able to do could possibly work. And also Saudi Arabia doesn't want it in the first place. The Theranos of the nuclear energy industry indeed.
Also while on balance it's a good thing that FARA has recently found some teeth, FARA kind of feels like too little too late when it's treated as an accepted fact that foreign states exercise veto power over aspects of US foreign policy via US lobbying groups.
Why, you may wonder, were IP3 and Flynn and the rest so eager to see nuclear reactors in the Middle East, when IP3 itself obviously has no nuclear power capabilities?

Because if those reactors get built, IP3 wants to get rich selling "security packages" for them.
"No surprise" that Mattis is a strong endorser of the Theranos of the nuclear industry. Since, after all, he was also a strong endorser of the Theranos of the blood testing industry.
The Deep State strikes again, blocking the Trump administration's efforts to... have the National Security Advisor get involved in lobbying Trump to support an industry plan to get rich by exporting US nuclear technology to the Middle East.
Tom Barrack: lobbyist for the nuclear industry, and thanks to FLOTUS, also for his business partners' wives' fashion lines
Gen. Jack Keane has won influence in the White House by going on Fox News and vigorously defending Trump.

Keane then uses that influence to take private meetings with the president in which he urges the WH to let private companies develop US non-proliferation strategy.
The plan, summarized: (1) IP3 promises nat sec people millions of $ if they can weaken US non-proliferation regs to allow export of nuclear tech to Saudi; (2) the nat sec people use either their positions in Trump's cabinet/WH or their Fox News platform to lobby Trump on the idea
(3) IP3 uses its connections with Trump world folks to convince MBS to give IP3 millions of $; (4) other energy companies know IP3 is full of shit but jump on the KSA nuclear deal train anyway, so that they can make millions more from KSA by offering their consulting services
(5) The CEOs work with IP3 and the Barracks of the lobbying world and the Flynns in the gov't to convince Trump that their plan for relaxing non-proliferation standards will make the world safer, and also coincidentally will make them millions of $ from KSA in the process
(6) Plan almost falls to pieces when the Nat Sec Advisor, who was on IP3's payroll, is caught using his WH position to promote pro-IP3 nuclear regs, but then he pleads guilty to one count of lying about the Russia stuff so no charges are brought for lying about the KSA stuff
(7) Use industry connections to sell your new strategy for nuclear non-proliferation on Secs of Energy, Defense and Directors of CIA, Nat Economic Council. When Sec of State refuses to go along with the plan, avoid the roadblock by going through president's son-in-law instead.
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